KUALA LUMPUR: KIP Real Estate Investment Trust (KIP REIT) reported a lower net profit of RM8.37mil in its first quarter ended Sept 30, 2021, compared with RM8.85mil in the previous corresponding period.
In a filing with Bursa Malaysia yesterday, it said revenue in the first quarter was lower at RM17.14mil compared with RM18.23mil a year earlier.
“The decrease in revenue was mainly due to lower promotional area income on the back of restrictions on activities or events in malls,” it said.
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